What is Gala Games (GALA)? Binance Lists GALA On Sept 13
The world’s largest crypto exchange Binance has announced today that its lists Gala Games (GALA). The exchange will open trading for GALA/BTC, GALA/BNB, GALA/BUSD, and GALA/USDT trading pairs at 2021-09-13 06:00 (UTC).
— Binance (@binance) September 13, 2021
What is Gala Games (GALA)?
Gala Games is a GameFi platform that aims to build an ecosystem of blockchain games. GALA is the platform utility token, and is used for node operator incentives, network governance, in-game rewards for playing platform games, in-game currency to purchase items and NFTs in the Gala store.
Gala Games is not a single game, but rather it offers an entire array of different blockchain games that places fun first and blockchain in the background. So far, Gala Games has released one playable game – Town Star and an NFT collectible series – VOX. It plans to release more games in the future, such as a fantasy RPG game, a sci-fi strategy game and a tower defense game.
Other games are also being developed by Gala Games, such as Fortified, Mirandus, Echoes of Empire and Spider Tank Project.
Since launching in July 2019, Gala Games has grown to 1.3 million monthly active users, and 26,000 NFTs have been sold, with the most expensive piece valued at $3 million.
Gala Games was founded by Eric Schiermeyer. He was the co-founder of Zynga, a popular social and mobile games company. Under Schiermeyer’s leadership, Zynga launched popular hits like Poker, Mafia Wars and Farmville.
The maximum total supply will be 35 billion GALA tokens. Currently, there is about 7 billion GALA in circulation.
17,123,286 GALA is distributed daily at approximately 0200 UTC. Half of this GALA is distributed to Founder’s Node operators, and half to the Gala Games conservatorship. Each year, on the 21st of July, the distribution of GALA will be halved. For example, beginning on July 21st of 2022, the daily distribution of GALA will be 8,561,643 instead of 17,123,286.
The GALA token serves as a utility token that is used to purchase items in the game and can be earned from running a node.
The GALA token runs on Ethereum and the Binance Smart Chain blockchain. The network is secured by its own set of nodes called Founder’s Nodes. Gala Games specifies a maximum of 50,000 Founder’s Nodes that validate in-game transactions and secure the network.
- Binance Lists Gnosis (GNO) On August 30
- Binance Lists Tribe (TRIBE) On August 24
- Binance Lists MOBOX (MBOX) On August 19